Autoregression is a time series model that uses observations from previous time steps as input to a regression equation to predict the value at the next time step. It is a very simple idea that can result in accurate forecasts on a range of time series problems
- Basically ARIMAX gives you an added advantage over Linear Regression and AIRMA model. ARIMAX merges both the concepts i.e. it takes the time series forecasting from ARIMA and then uses other variables to check if these variables have any added advantage over the already predicted value of ARIMA. So, we can safely assume that ARIMAX is the sum of ARIMA and Linear Regression.
- We could have done more feature engineering to include in the Linear Regression. So, there is a scope to better the already 96% accuracy There were few more questions on the basics of Statistics, you can easily find the answers to these questions on the internet, the reason behind not answering these 4 questions is that Amazon does not allow us to share knowledge which is easily available on the internet:-
Python uses most of the Object Oriented programming concepts. But we can also do functional programming in Python. As per the opinion of experts, Python is a multi-paradigm programming language.
We can do functional, procedural, object-oriented, and imperative programming with the help of Python.